new directions in composites

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1 new directions in composites Company Press Kit Company overview Albany Engineered Composites (AEC) designs, develops, and manufactures advanced composite components. Our core strength is our ability to produce highly tailored, complex composite parts, with a focus on 3D reinforced composites. Our products often enable our customers to use lightweight, high-performance composites in applications where they previously have not been able to. This can be for many reasons: other composite products cannot provide the necessary strength properties for a part, the geometry of a component is too complex for alternative composite technologies, and other types of technical challenges. One of the great benefits of using composites to replace metal components is related to fuel efficiency. When a composite replaces a metal part in equipment that requires fuel to operate, the composite can enable that equipment to use less fuel. This is most apparent in cases such as airplanes and cars; when heavy metal components are replaced by lighter composite parts, such as those AEC produces, the car or plane has less weight to carry and can use less fuel. AEC is a subsidiary of Albany International Corp. and shares its mission to deliver differentiating products and service with the highest quality and reliability. AEC is headquartered in Rochester, New Hampshire, home to both research and technology activities and production facilities. The company has additional fabrication and assembly facilities in Boerne, Texas. Beyond these spaces, AEC has recently started to expand its facilities to support current product development and production efforts within the aerospace industry. AEC Technology AEC s composite products use a number of technologies including: 3D woven composites resin transfer molding (R) X-COR, K-COR, and Ceramic Truss Core (CTC ) sandwich panels contour and steered weaving discrete through-thickness reinforcement, including Z-FIBER traditional and non-traditional 2D laminated composites press and autoclave curing Together, these technologies allow AEC to produce composite parts that are challenging to produce with traditional, 2D laminated composites or metals. AEC designs components for the needs at hand and works closely with customers to tailor each part for its final application.

2 Aerospace, Defense, & Diversification Our customers primarily include aerospace and defense OEM s, prime contractors, and Tier 1 suppliers. Currently, AEC s largest development program is based on its exclusive relationship with Snecma (Safran Group), through which AEC develops and manufactures 3D resin transfer molded composite fan blades, fancases, and other components for the LEAP aircraft engine (an engine developed by Snecma and General Electric through their CFM International joint venture). Other recent project work has included design and/or development work for: main landing gear braces for the Boeing 787 Dreamliner (work performed for Messier-Bugati-Dowty) Rolls-Royce LiftFan components for the F-35 Lightning II aircraft ceramic matrix composite substrate for Boeing s FAA CLEEN engine nozzle new cargo floor concept for Sikorsky s Blackhawk helicopter Leveraging the technology and production capacity initially developed for these and other aerospace products, AEC is now exploring the application of these technologies to other performance driven industries. LEAP Engine Project & Ramp to Production AEC is the sole source supplier for composites blades, spacers, platforms and fan casings for the LEAP aircraft engine. The LEAP engine is a product of CFM International, which is the world s leading supplier of commercial aircraft engines and a 50/50 joint company between Snecma (Safran group) and GE. Each of the LEAP components provided by AEC utilizes AEC s 3D composite and resin transfer molding technologies. Each component also contributes to enabling the LEAP engine to provide up to 15 percent better fuel consumption and an equivalent reduction in CO2 emissions compared to today s best CFM engine. CFM The LEAP program is one which provides significant growth opportunities for AEC. As of May 2012, LEAP orders and commitments measured to more than 3,500 engines. In addition to the LEAP being one of two engine options on the Airbus A320neo, LEAP engines are the exclusive powerplants for the Boeing 737 MAX and COMAC C919. According to CFM, LEAP development is progressing on schedule and the engine is on track for entry into service in 2016 on the A320neo and C919 and in 2017 on the Boeing 737 MAX. AEC is currently expanding its production facilities to support the LEAP program. This expansion includes new production plants in both Rochester, New Hampshire (USA) and Commercy, France. AEC and Snecma will be co-located in both facilities. Construction of the Rochester plant - a new 353,000 square foot facility designed for LEAP composites product manufacturing - is currently underway. Construction of the second plant in Commercy, France is scheduled to begin later in Ongoing Research AEC s ongoing research efforts primarily focus on aerospace products, though often the application of these technologies and products may suit other performance-driven applications such as those in the automotive or power industries. As part of its research efforts, AEC iterates and develops new product concepts, manufacturing capabilities, and

3 design technologies. In addition, AEC collaborates with customers to adapt these technologies and products to individual applications. With respect to product design tools, this includes the development of software for designing 3D woven composite preforms and simulating a 3D composite product s response to loading. Some of the newer product areas being explored include: Sine wave beams designed for aircraft floor beams, keel beams, ribs, and spars Corner braces for aircraft fuselage frames Rib structures Frame structures for automobile applications History 1998 Albany International purchases Techniweave, Inc. and merges it with the Albany International Research Company s Engineered Products Group, consolidating the companies advanced composite textile capabilities into Albany International Techniweave, Inc Albany International Techniweave, Inc. acquires Texas Composites Inc Albany International Techniweave, Inc. acquires Aztex Inc. assets, including IP associated with Z-FIBER, X-COR and K-COR Albany International Techniweave, Inc. enters into exclusive relationship with Snecma to develop and commercialize advanced 3D composite components for landing gear and future jet engine applications (including LEAP) Albany International Techniweave, Inc. is renamed Albany Engineered Composites, Inc. (AEC) LEAP engine (which uses AEC 3D composite fan components) had been selected as the sole western-sourced engine by COMAC (Commercial Aircraft Corporation of China, Ltd.) for COMAC s new 150-seat aircraft, the C Boeing selects AEC as the supplier of a ceramic matrix composite substrate (based on AEC s reinforced preform technology) for its CLEEN engine nozzle program AEC s 3D composite main landing gear braces are successfully flight tested by Boeing on its 787 Dreamliner Airbus selects LEAP engine (which uses AEC 3D composite fan components) as part of its offering for the new A320neo (new engine option) 2011 Boeing selects LEAP engine (which uses AEC 3D composite fan components) as the exclusive powerplant for its new family of re-engined Boeing 737 MAX aircraft Ground breaking for new high-volume LEAP production facility in Rochester, NH

4 Biographies Joe Morone, CEO/President Joseph G. Morone is President and Chief Executive Officer of Albany International Corp., a global advanced textiles and materials processing company that trades on the New York Stock Exchange. Dr. Morone was named President of Albany International on August 1, 2005, and appointed Chief Executive Officer on January 1, He is a member of the Board of Directors of Albany International Corp., Presiding Director of Transworld Entertainment Corporation, serves on the Board of Trustees of Frisbie Memorial Hospital in Rochester, New Hampshire, and until July 2005 served as chairman of the Board of Trustees at Tufts-New England Medical Center and its Floating Hospital for Children. Before joining Albany International, Morone served as president of Bentley University for eight years, and before Bentley, as dean of the Lally School of Management and Technology at Rensselaer Polytechnic Institute. Prior to joining Rensselaer, Morone worked for the Keyworth Company, a consulting firm that specialized in technology management and science policy; GE s Corporate Research and Development; and the White House Office of Science and Technology Policy. Dr. Morone holds a Ph.D. from Yale University in political science. His publications include: Winning in High-Tech Markets (Harvard Business School Press), and The Demise of Nuclear Power: Lessons for Democratic Control of Technology (Yale University Press; with E. Woodhouse). Ralph Polumbo, Chief Operating Officer Ralph Polumbo is Chief Operating Officer of Albany Engineered Composites, a position he has held since December Mr. Polumbo joined Albany International Corp. in 2006 as Senior Vice President-Global Human Resources and he was subsequently named Chief Administrative Officer of Albany International in Before joining Albany, Mr. Polumbo served as Head of Human Capital for Deephaven Capital Management, and from 1999 to 2004, he was Vice President Human Resources and Business Integration for MedSource Technologies, participating as a leader with the successful start-up in the Class 3 medical device market space. Mr. Polumbo joined MedSource following his role as Vice President Integration for Rubbermaid; he was located in Waterloo, Belgium, with responsibility for the pan-european integration of acquired housewares businesses. Prior to joining Rubbermaid, from 1974 to 1994, he held various Senior Human Resource and Operations positions for The Stanley Works. Mr. Polumbo received a B.S. in Economics from the University of Pennsylvania Wharton School and an M.S. in Labor and Industrial Relations from Michigan State University. Diane Loudon, Vice President of Operations Diane Loudon joined Albany Engineered Composites in November, 2011, as SVP Operations for the growing division. Her background includes over 30 years, largely in operational roles including accountability for multiple facilities, change management, creation of lean based cultures, and development of effective operations organizations. Ms. Loudon has worked extensively in contract manufacturing, most recently producing medical devices. Her teams have won multiple awards for achievement of targeted metrics, continuous improvement activities, and speeding the development to market cycle. Prior to joining AEC, Ms. Loudon was with Accellent, Inc. for over 15 years. Accellent is a medical device contract manufacturer where Ms. Loudon led manufacturing facilities and

5 developed an extensive and global customer operations team. Before that, she consulted with Boeing Commercial Aircraft Group, McDonnell-Douglas, General Motors, IBM-Canada, Emerson Electric, Harris Corporation, and others to establish greater levels of manufacturing and organization effectiveness. Ms. Loudon also worked directly for Pitney- Bowes in operations and staff leadership roles. Earlier years with Norton Company and Creative Output helped to shape her thinking along continuous improvement paths as an Industrial Engineer. Ms. Loudon has an MBA in Organization Development from Syracuse University and undergraduate degrees in Industrial Engineering and Accounting from Central New England College. Brian Coffenberry, Senior Vice President Strategic Planning and Business Development Brian S. Coffenberry is the Senior Vice President of Strategic Planning & Business Development for Albany Engineered Composites. His background includes more than 25 years in the composites industry, many of which have focused on management and business development. Mr. Coffenberry has been with Albany International since 1994 and Albany Engineered Composites (previously Albany International Techniweave, Inc.) since its acquisition in His roles with both companies have included Manager of Business Development, Director of Aerospace Products, and VP/General Manager. Prior to joining Albany International, Mr. Coffenberry worked for various aerospace companies, including Automated Dynamics Corporation, ICI Composite Structures, McDonnell Douglas Corporation, Materials Sciences Corporation, and General Electric Company. Mr. Coffenberry holds a Master of Science from Rensselaer Polytechnic Institute and a Bachelor of Science from Rose-Hulman Institute of Technology. Jon Goering, Divisional Chief Technology Officer Jonathan Goering has been with Albany Engineered Composites since 1998 and currently holds the position of Divisional Chief Technology Officer. In this role, he is responsible for defining the technical direction of the Division s Research and Technology group and provides input on the strategic initiatives for the Company. He has been instrumental in the development of technologies that led to the production of advanced composite components including 3D woven, resin transfer molded fan blades and fan cases for commercial jet engines, and 3D woven preforms for composite landing gear braces. Mr. Goering holds Bachelor of Science and Master of Science degrees in Mechanical Engineering from Kansas State University. He has been active in the field of advanced composite structures for over thirty years, and held positions with The Boeing Company (formerly McDonnell Douglas Aerospace), Materials Sciences Corporation, and The Trane Company prior to joining AEC. His areas of expertise include the design of fiber preforms and composite components, computational mechanics, and advanced textile manufacturing processes. Media Relations Contact Susan Siegel susan.siegel@albint.com Airport Drive Rochester, NH USA X-COR, K-COR, CTC, and Z-FIBER are all registered trademarks or trademarks of Albany Engineered Composites. CFM and LEAP are trademarks of CFM International, a 50/50 joint company between Snecma (Safran group), France and GE, USA. LiftFan is a registered trademark of Rolls-Royce.